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Shiba Inu and Ethereum Price Analysis

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  • Shiba Inu exploded during the weekend to trade above $0.00004 at writing.
  • Ethereum returned above $4,000 and nearly touched $4,200.
  • The trading volume stands at $15 billion, with a market value of $20 billion.

While the Bitcoin market has maintained its bullish perspective, there has been some volatility. In the wake of Bitcoin’s meteoric rise to new all-time highs over $67,000, alternative cryptocurrencies have gained popularity. Last week, Ethereum rose above $4,000 for the first time in almost a year and came close to reaching $4,200. Solana has increased past $200, whereas Shiba Inu erupted over the weekend, trading at $0.00004 at writing.

Elon Musk, the founder and CEO of Tesla, has admitted that he does not own any Shiba Inu dogs, but this hasn’t seemed to concern the Shiba Inu community. On the other hand, Musk has stated that he now holds Bitcoin, Ethereum, and Dogecoin.

Despite the dismal news from the billionaire Tesla, the Shiba Inu rose past $0.00004 and was on the verge of reaching $0.000045 in value. According to the company, it has a $15 billion trading activity and a market capitalization of $20 billion. Shiba Inu has reclaimed the 11th market position, replacing the USDC coin.

At the time of this writing, the Dogecoin offshoot is trading at $0.000041 per coin. Support at $0.000035 has already been maintained, encouraging bulls to resume control of the market. Another push past $0.000045 might set off the next round of the rally toward $0.0001.

In the recent week, Ethereum came close to closing the gap on Bitcoin, which reached an all high of $4,400, but was forced to drop below $4,000. The zone around $3,900 was essential in ensuring that kept losses were in check and that recovery could get underway. As depicted on the four-hour charts, the 50 Simple Moving Average (SMA) and the rising trend line helped confirm this specific buyer congested zone.

During this period, Ethereum is trading at approximately $4,143 at writing, as bulls continue their efforts to turn the record high into resistance. In the same timeframe, the MACD is expected to offer a buy signal, which would further solidify the bulls’ position in the marketplace.

Please recognize that the relative strength index (RSI) has shifted back in favor of the bulls as it recoils from the middle and approaches the overbought level. This demonstrates that purchasers are becoming more active in anticipation of another rise that will push Ethereum to $5,000.

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BlockchainSpace Lands $2.4M In Strategic Funding To Onboard 20,000 New Guilds In The P2E Metaverse

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Panther and BUMPER Protocol announce partnership to provide seamless DeFi user experience

SINGAPORE, SINGAPORE, 30th November, 2021,

BlockchainSpace, a guild hub for play-to-earn (P2E) communities, announced a $2.4 million strategic funding round today. Coming hot on the heels of last month’s seed round, the funds will be used to onboard the next 20,000 guilds worldwide and accelerate growth in the rapidly expanding NFT gaming industry. 

Morningstar Ventures led the round, with participation from backers including Crypto.com, Alameda Research (FTX), Kingsway Capital, OkEx Ventures and Unity Gaming

BlockchainSpace is a metaverse platform building tools that empower play-to-earn gaming communities to increase their performance, access capital, grow their earnings and live up to their full potential. It currently serves over 2,000 guilds and more than 545,000 P2E players. 

NFT-based P2E gaming is booming, with games such as Axie Infinity, CryptoBlades and The Sandbox blossoming into full-fledged economies that enable thousands of gamers to earn a living. But the barrier to entry is high, with the most popular games requiring investments of over a hundred dollars just to get started. Guilds enable new gamers – known as scholars – to access P2E games without any upfront investment in return for sharing a percentage of the profits they earn. 

Some of the biggest guilds of the P2E metaverse have grown to number thousands of scholars, but with scale comes growing complexity. 

Guild operators are sometimes likened to the asset managers of the metaverse. As their organization grows, their day-to-day operations become extremely intricate, with the need to keep track of assets, cashflow, revenue and expenditure, maintain multiple budgets and all the while monitor the performance of scholars. In other words, it is just like running a regular business in every sense. 

BlockchainSpace makes it easier for guilds to scale their operations. It provides a comprehensive platform and community for guild operators to accurately measure the performance of their players, onboard new scholars and vet applicants, automate cashout requests and gain access to in-depth analytics and benchmarking across multiple guilds. Its unique tools and features save guild operators time and allow them to focus on scaling and improving performance. BlockchainSpace also provides opportunities for guilds and individual players alike to access the capital they require to grow their existing guilds or start new ones. 

Interest in the NFT gaming industry is snowballing, with thousands of aspiring P2E gamers clamoring for a chance to enter the metaverse. BlockchainSpace said today’s strategic funding round will enable community backers, long-term backers and liquidity providers to help facilitate the onboarding of the next 20,000 guilds worldwide and more than 10 million users on its platform. 

BlockchainSpace will continue to develop its platform to provide more tools and features for guild owners to operate their guilds, with its focus on guild performance monitoring, Guild Data Back and a Guild Financial Bank to drive more rapid growth in the NFT gaming space. 

Early next year, BlockchainSpace will launch its revolutionary Open Guild Marketplace that will enable the integration of new TradeFi and decentralized finance tools to catalyze economic opportunity for guilds and their members. The platform is also planning to introduce new automated credit scoring and loan issuance features, and will also deploy its Ecosystem Fund in 2022. 

About BlockchainSpace

BlockchainSpace enables play-to-earn guilds to scale in the metaverse. BlockchainSpace builds tools to empower gaming communities and runs academies to identify economic opportunities in games. BlockchainSpace’s aim is to embolden the next generation of play-to-earn gamers and guild owners to become successful entrepreneurs by equipping them with essential digital tools and financing.
 

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The Bitcoin Saga: A Look At BTC’s History Of Up’s And Down’s

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The Bitcoin Saga: A Look At BTC's History Of Up's And Down's

Bitcoin has ran into its fair share of judgement and hate, if it’s from people accusing the blockchain of harming the earth, or countries banning them, we will take a look at Bitcoin’s run-ins and how it has gone through minor setbacks, and major comebacks.

A History Lesson

We all know the powerhouse that is starting to raise fresh eyes and debates on the new way of Money. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when it’s implementation was released as open-source software. Bitcoin are created as a reward for a process known as mining. Among asset classes, Bitcoin has had one of the more volatile trading histories. The cryptocurrency’s very first big price increase occurred in 2010 when the value of a single bitcoin jumped from just a fraction of a penny to $0.08. Today that same coin is worth around $54k; not many people saw this coming at all as it shook the world, and started the new wave of finance.

Related Reading | How NFTs Are Impacting Artists’ Lives: Enter Bullseum

 

The Up’s And Downs, The Good And The Bad

BTC has faced many ups and downs in years, on top of bans and many tiny setbacks – but still the blockchain has risen. Bitcoin caught a huge break in 2017, when BTC caught mainstream attention; many developments  and media outlets have had some sort of impact on price. People like Elon Musk and Jack Dorsey have had success in garnishing both good and bad press for these coins.

Other things such as Bitcoin halving events, in which the total supply of Bitcoin available in the market declines due to a reduction in miner rewards because of an algorithmic change, have all played a role in price increases. The price of Bitcoin since the May 2020 halving has seen an increase of nearly 300%. Previous halving events in 2012 and 2016 produced significantly larger price gains of 8,000% and 600%, respectively. Among many factors, the halving in the reward given to miners that also doubles the asset’s stock-to-flow ratio seems to have a significant effect on Bitcoin’s price and that is important to know.

Many countries have banned or attempted to ban the mining of these coins as it left a carbon print that is impacting the environment. China has often taken the stance that crypto mining is an “extremely harmful” industry that jeopardizes China’s pursuit of carbon neutrality, as stated by Meng Wei, a spokesperson for China’s macroeconomic agency, the National Development and Reform Commission. On the other side of the coin, both New York and El Salvador have made cryptocurrency and bitcoin a top priority.

This is an ongoing battle, and the outcome and winner will come in the future only time will tell if bitcoin will face another crash or rise

Related Reading | Exchanges See Bitcoin Outflows For 7th Straight Day As BTC Price Begins Recovery

 

 

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Colony Raises $18.5 Million To Fuel Next-Generation Applications In The Avalanche Ecosystem

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Panther and BUMPER Protocol announce partnership to provide seamless DeFi user experience

Paris, France, 30th November, 2021,

Colony, a community-driven accelerator evolving into a decentralized autonomous organization that’s aiming to generate rapid growth in the Avalanche ecosystem, announced it has raised $18.5 million in seed funding. 

The round was led by The Avalanche Foundation and saw participation from Shima Capital, Hashkey, GBV Capital and Bixin Ventures. Members of the Avalanche community also participated in the round.

Colony’s mission is to deploy capital within the Avalanche ecosystem to fund the most promising early-stage projects, provide liquidity for DeFi protocols, maintain an Index on top of Avalanche projects and validate networks through stacking capabilities. Through its concept of Ecosystem Farming, Colony will enable the community to invest in the most promising projects at the ground-level development stage, creating opportunities that were previously only available to VCs and angel investors.

Colony’s open governance mechanism ensures capital is allocated across the Avalanche ecosystem for the sole benefit of ecosystem projects and its community. Value generated by Colony’s investments will be routed back into the community via airdrops, a buyback mechanism and staking rewards. 

Under its Validator Program, 10% of Colony’s capital will be deployed in AVAX to be staked, with Colony also contributing to subnets validation if allowed. Another 10% will be deployed into the top 10 projects built on Avalanche ranked by market cap, with distribution rebalanced quarterly. Projects ranked within the Index will be determined by community vote. 50% of Colony’s capital will be deployed to support the best teams and projects building on Avalanche, to finance their efficient development and growth. The final 30% of Colony’s capital will be deployed via liquidity protocols built on Avalanche. 

“We are delighted to announce that we’ve established close ties with the Avalanche Foundation itself. We’ll be sharing deal flow to create a more fertile ground for projects building on Avalanche, the fastest, highly customizable, smart contracts platform in the blockchain industry,” said Colony CEO Elie Le Rest.

Colony’s native token CLY is a unique hybrid token that’s used for both DAO governance and liquid exposure to Colony’s value flow. CLY is a new kind of asset that features an Airdrop Mechanism to incentivize token holders as they build a diversified portfolio on Avalanche by staking their tokens. Another unique feature is its Buyback Mechanism to create recurring pressure on CLY and redistribute bought $CLY to active community members. CLY both empowers and controls, enabling the community to align incentives across pillars and create a codified harmony between stakeholders, the protocol and its assets.

“It’s great to see Colony seeking to create a decentralized democratic financial ecosystem by giving the community access to early-stage projects in seed and private rounds. This is very much aligned with Avalanche’s core value: community first,” said Nicolas Lemaitre, General Manager at Ava Labs.

Colony will launch in Q4 2021 with public token sales and shall continue empowering selected projects building on Avalanche with its first capital deployments. In the second half of 2022 Colony will move to implement a DAO structure with its own subnet on Avalanche to decentralize itself and build new incentive models for CLY token holders. 

About Colony

Colony is a community-driven accelerator that aims to generate Avalanche ecosystem growth by empowering its community to invest in early-stage projects. Powered by a first-of-its-kind funding mechanism, Colony permeates traditional venture capital with a spirit of Community through open governance, support and inclusion. Over time, Colony will implement an inclusive DAO structure to become truly decentralized.

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